Cross River State Governor, Prince Bassey Edet Otu, has reaffirmed his administration’s commitment to inclusive economic development and social justice with the official launch and disbursement of N250 million in grants to 500 retirees under the Retiree Entrepreneurship Development Initiative (REDI).

Otu, who was represented at the event by his Deputy, Peter Odey, made the declaration during the REDI grant disbursement ceremony held at Hogis Royale Hotel, Calabar, yesterday. Each beneficiary received a N500,000 grant to start micro or small-scale businesses, marking a bold step in repositioning senior citizens as active contributors to the state’s economy.

Describing the initiative as “expanded reciprocity” for those who committed their prime years to public service, the governor said REDI was part of his broader vision to promote human capital development and economic empowerment under the “People First” agenda.

“This government recognises the value of our retirees and seeks to reintegrate them into productive life.”

The REDI programme offers skills training and funding support to help them transition from public service to private enterprise,” the governor stated.

He noted that the disbursement marks the first phase of the programme, which will be replicated in the Central and Northern senatorial districts in the coming months. Otu also assured beneficiaries of continued support through the state’s Microfinance and Enterprise Development Agency (MEDA), including access to soft loans for business expansion.